Looking to diversify beyond FDHIX? The mutual funds below have historically moved differently from FDHIX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FDHIX
4 mutual funds have low correlation with FDHIX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.11, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.11 | -0.03 | 0.03 | 93 | Bank Loan | FDHIX vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.10 | — | — | 99 | Bank Loan | FDHIX vs CAPIX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.17 | 0.18 | 0.22 | 99 | Event Driven | FDHIX vs VARBX | |
| RiverPark Floating Rate CMBS Fund | 0.25 | 0.18 | 0.19 | 100 | Bank Loan | FDHIX vs RCRIX | |
| Federated Hermes Floating Rate Strat Inc Fund | 0.31 | 0.35 | 0.53 | 93 | Bank Loan | FDHIX vs FFRSX |
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